? about Canadian Student Loans

iVillage Member
Registered: 03-27-2003
? about Canadian Student Loans
1
Fri, 11-05-2004 - 7:59pm
Does anyone know anything about Candian student loans? I haven;t been paying mine and I am afraid of calling them, I have so many other bills I need to catch up on.
Running Woman
iVillage Member
Registered: 04-07-2003
Mon, 11-15-2004 - 6:05pm

How long have you had your loans? Are they through a bank, or are they directly through the governemnt? All the rules changed a couple of years ago, and NEW loans aren't handled by the banks anymore.

There are programs available to help you. The most common is Interest Relief. I did this for almost 5 years. The government pays your interest, and you make NO payments. However, in order to apply for this, your loans have to be in good standing.

I would call them. You are only digging a deeper hole by letting this go on unattended. You will be responsible for all interest that has accrued since you last payment, and your credit rating is being completely blown by ignoring your payments. The longer you wait, the worse the damage will be.










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